This is what Teddy Roosevelt, a leading proponent of the estate tax, said in 1910. "The absence of effective state, and, especially, national restraint upon unfair money-getting has tended to create a small class of enormously wealthy and economically powerful men, whose chief object is to hold and increase their power. The prime need is to change the conditions which enable these men to accumulate power which is not for the general welfare that they should hold or exercise.... Therefore, I believe in a ... graduated inheritance tax on big fortunes, properly safeguarded against evasion and increasing rapidly in amount with the size of the estate." And that's what we've had for the last 95 years -- until 2010.
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